ArcelorMittal to finalise divestments this year
ArcelorMittal will have sold off all the plants it needs to divest by the end of this year as part of its Ilva transaction. And more clarity is emerging over the potential outcomes.
Ukrainian steelmaker and mining firm Metinvest and Italian re-roller Marcegaglia have formed a joint venture to acquire the Galati plant in southeast Romania, which has crude steelmaking capacity of about 3mn t/yr and produced 2mn t in 2017.
The synergies for this potential deal are clear. Metinvest is one of the largest suppliers of iron ore to Galati, and Marcegaglia is a big buyer of slab and hot-rolled coil from Metinvest. Marcegaglia has been concerned about captive steel supply, given the continuing trend for mill consolidation and rising import barriers.
Metinvest has also been competing to an extent with Galati in central and eastern Europe.
Marcegaglia is also interested in the Piombino galvanising line in Italy, industry sources say.
Metinvest and ArcelorMittal refused to comment, while Marcegaglia could not be contacted for comment.
ArcelorMittal has packaged up the Dudelange facility in Luxembourg with its hot-dip galvanised lines in Flemalle, and the Tilleur cold-rolling and tinning line for sale to one buyer. It has established a separate company to manage these facilities, according to industry sources.
Salzgitter said earlier this year that it had submitted an offer to acquire the facilities, while there have been suggestions that SSAB has also expressed interest. SSAB did not respond to a request for comment.
source: Argus Media
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